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Jap SMEs to make foray into India

 

TSI TEAM | New Delhi, September 19, 2011 20:02
Tags : Japan | SMEs | make foray | India | Gujarat | MoU | JCCI |
 

Japanese Small and Medium Enterprises (SMEs) are set to make aggressive forays into the Indian markets, particularly those of Tamil Nadu, Andhra Pradesh, Karnataka, Gujarat, and West Bengal.

This is the objective with which the Japanese Chamber of Commerce and Industry (JCCI) is planning to make SME globalisation a key pillar of its overseas activities.

Tadashi Okamura, Chairman, JCCI, said, “During this visit to India, the Japanese business delegation plans to sign a MoU with the Government of Tamil Nadu aimed at cooperation in encouraging Japanese SMEs to invest in the State. We hope that this will prompt our members, especially manufacturers, to take greater interest in India, and that will accelerate expansion into Tamil Nadu and India as a whole.”

Okamura observed that Japan’s small and medium-sized manufacturers have the advanced technical capabilities and by expanding into India, “I believe they can help local manufacturers to become more competitive through technology transfers, greater employment opportunities and human resources development.”

He announced that in addition to Tamil Nadu, JCCI is focusing on states including Andhra Pradesh and Karnataka, where economic development is accelerating, Gujarat, which is actively soliciting investment and West Bengal, where there are moves to energise the economy through industrialisation.

“We would like to ask each state government to listen to the needs of the Japanese companies doing business in the respective states and strive to create an even better business environment, by bringing about improvements in infrastructure such as roads and ports and electricity supplies as well as industrial parks,” Okamura said.

Citing the results of a survey by the Japanese Embassy in New Delhi, the JCCI chief observed that Japanese companies are moving into India as at faster pace. Japanese companies had established 438 firms and 555 offices in India as of January 2008 and this had grown to 725 companies and 1236 offices by October 2010.

Okamura expressed confidence that the expectation that Japan-India trade would more than double to US$ 25 billion by 2014 was very likely to be achieved.

JCCI, he said, issues certificates of origin under the Japan-India Comprehensive Economic Partnership Agreement (CEPA). In the first month after the agreement came into force JCCI issued 439 such certificates. “This is the largest number of certificates of origin we have issued in the first month of an EPA concluded by Japan, and a flying start to the Japan-India CEPA,” he said.

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Issue Dated: Feb 5, 2017